Radical Fleet Surgery Proposed As Garuda Eyes Restructuring simpleflying.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from simpleflying.com Daily Mail and Mail on Sunday newspapers.
Garuda to restructure under UK scheme of arrangement flightglobal.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from flightglobal.com Daily Mail and Mail on Sunday newspapers.
Flag carrier PT Garuda Indonesia has shrunk its management to reduce costs as the airline restructures its way out of a pandemic-driven financial crunch.
Garuda removes directors to save costs amid debt restructuring aircargoworld.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from aircargoworld.com Daily Mail and Mail on Sunday newspapers.
By Alfred Chua2021-07-20T04:13:00+01:00
Auditors have raised “significant doubt” over Garuda Indonesia’s ability to continue as a going concern, after the beleaguered flag carrier plunged to a record full-year loss.
In a report accompanying the carrier’s financial results, KAP Tanudiredja, Wibisana, Rintis & Rekan, a member firm of accounting giant PwC, assigned a disclaimer of opinion given when auditor cannot judge whether the accounts have been created properly on Garuda’s financial results.
Source: Wikimedia Commons
Garuda Indonesia fell to a $2.2 billion operating loss for the year ended 31 December 2020.
It notes that Garuda’s financial situation weakened due to the coronavirus pandemic, which has impacted the airline group’s performance and liquidity.